Continental Realty Corp. Acquires Retail Property In Lake Worth Beach For $11.3M
8888 Lantana Road, Lake Worth, FL, USA
$11,300,000
$195/SF
Building Size
57,901 SF
Asset Type
Retail
Closing
Apr 13, 2021
About this deal
AI
The retail property located at 8888 & 8919 Lantana Road in Lake Worth Beach has been sold. The sale was finalized on 04/14/2021.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $11,300,000
- Square Footage: 57,901
- Price Per Square Foot: $195
- Acres: 8
- Price Per Acre: $1,412,500
The buyer of the property is Continental Realty Corp., represented by Josh Dinstein and JM Schapiro. The seller, on the other hand, is DRA Advisors, represented by David Luski.
The brokers involved in the deal are Kirk Olson and Drew Kristol, from Marcus & Millichap.
On the Map
$11,300,000
$195/SF
Retail
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Players
Lake Worth Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.40%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93